Red Hat, Inc (NYSE: RHT) Elliott Wave Analysis

Elliott Wave Analysis of Red Hat IncNigam Arora is a market player whom I respect. He has recently suggested that Red Hat Inc should be watched because in his opinion the market is underestimating this company’s earning power and growth rate significantly. So I decided to check it out.

From an Elliott Wave perspective, however, I dont see any imminent prospect for a significant reversal. Yes, we could approach the prior highs, but just when the lay investor finally gets convinced that Red Hat was a hot stock, I suspect we will get some news or event that will act as a catalyst to send the price rapidly down to the $30 area. There are additional comments on the chart that should give you more food for thought. Good luck.


  • vritika

    SIR, nifty view for 2012.Can one start SIP in nifty bees.can nifty come down to 3200 by next year.

  • R Hofmaster


    I was looking at Elliott Wave books on Amazon and bought your book. It is excellent! Enjoyed your unique writing style of providing the reader technical information in such a way to quickly understand and put it to practical use. Just started looking into you website and reading your posts. Great way to reinforce Elliott Wave principles taught in your book.

    You discussed previously the winning combination of Elliott and Gann. I am not familiar with Gann Analysis. You would please post where you recommend we can learn about it? Is this the method you use for your trading short term trading? Perhaps an idea for you to write another book.

    Thank you.

    • Hi Hofmaster, thank you for your comments. I spent a lot of time in the past learning Gann, and the later Peter Pitch was a personal friend. He is the creator of a wonderful software to apply Gann. However, I seldom use it these days because I found it hasn’t added to my trading results. So I recommend that you sav yourself time and money and stick with EWP

      • Trevor


        You’ve likely seen the widely divergent commentary on the next big moves for the broad US (& European) equity markets & the gold/silver markets. Your updated charts & commentary on these areas would be greatly appreciated (by many, I am certain).

        Thanks again for you time & effort.


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